The romance in the original KOTOR consisted of saying a series of inane pickup lines like you were taking the class s1ut in high school to Taco Bell. It sucked. Hopefully they made it better this time around. The only incentive to do it was to hear Jennifer Hale's sultry voice slide through those dialogue lines.
Those who want their choices from the original KOTOR determine the choices in KOTOR 2. What happens if your KOTOR 1 save shut you out of some quests in KOTOR 2? Then you will have to play KOTOR 1 ALL OVER again so you can play KOTOR 2 again. And think about how much scripting will have to be done to acommodate for all that.